The total annual dividend for 2022 is raised to €0.88/share, based on a 2022 Brent Reference price of 80 $/bbl approved by Eni Board of Directors on March 17, 2022.
The dividend will be equally split into 4 instalments paid in September 2022, November 2022, March 2023 and May 2023.
Reflecting the strength of Eni’s plan and the 2022 reference price, Eni will also launch a €1.1 bln share buyback, following shareholders’ approval in May.
In addition, Eni will update its 2022 buyback scenario assessment in July and October. For scenarios above 90 $/bbl, further buyback equivalent to 30% of the associated incremental FCF will be made.
Reflecting the underlying resilient performance of the business, the sliding scale of variable dividend per share from the floor level of €0.36 has also been simplified.